Tata Motors Jaguar Land Rover hikes engine plant investment to 500mn pounds
Tata Motors-owned Jaguar Land Rover today said it is ramping up the investment for its engine plant in the UK by over 40 per cent to more than 500 million pounds (over Rs 4,100 crore), besides doubling employee strength at the site.
Reiterating its commitment of an investment of 2.75 billion pounds (about Rs 23,000 crore) during 2013-14 financial year on development of new vehicles, the company
said it will launch eight new or refreshed products this year.
"Jaguar Land Rover will reinforce its commitment to manufacturing in the UK by increasing the investment in its new engine manufacturing centre to more than 500 million pound," JLR said in a statement.
In 2011, the company had announced to invest 355 million pound for setting up the engine plant.
"This will almost double the number of highly skilled engineering and manufacturing jobs at the plant, taking the total number of people who will be employed at the site to almost 1,400," the statement said.
The new engine plant will be opened later this year with the first engine coming off the production line in 2015.
Commenting on the development, JLR Chief Executive Officer Ralf Speth said: "Jaguar Land Rover's new engine manufacturing centre in the UK is a clear demonstration of our business strategy guiding our investment plans. Not only does it bring our engine supply back to our production doorstep, but it gives us significant new resource as we continue to innovate with new products and markets."
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